https://www.taxtmi.com/caselaws?id=74592 The Tribunal upheld the decision to enhance the invoice value of imported goods based on a revised price list, rejecting the appellants' argument that the valuation should be based on a negotiated price by another entity. The Tribunal emphasized that the ordinary selling price in international trade should be the basis for valuation under the Customs Act, disregarding the negotiated price by the Projects and Equipment Corporation of India. The decision underscored the importance of considering the price fixed by suppliers after a specific date for valuation purposes, reinforcing the precedence of ordinary selling prices over negotiated prices in customs valuation. en-us Fri, 28 Apr 1989 00:00:00 +0530 Thu, 09 Jun 2011 17:26:19 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=74592 The Tribunal upheld the decision to enhance the invoice value of imported goods based on a revised price list, rejecting the appellants' argument that the valuation should be based on a negotiated price by another entity. The Tribunal emphasized that the ordinary selling price in international trade should be the basis for valuation under the Customs Act, disregarding the negotiated price by the Projects and Equipment Corporation of India. The decision underscored the importance of considering the price fixed by suppliers after a specific date for valuation purposes, reinforcing the precedence of ordinary selling prices over negotiated prices in customs valuation. Case-Laws Customs Fri, 28 Apr 1989 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=74592